All but one council sent in their Annual Treasurer’s Report…Thank you!

It is essential for every council keep track of its budget to determine your needs and help reach your goals.

All councils were made aware of the new CWL Treasurer’s Annual Report Form and given suggestions of how to help their fellow executive members prepare the financial aspect of their individual reports.

The Quebec Provincial Treasure’s Annual Report compiled all the reports submitted: Congratulations to all who helped to raise and donate to so many for a total of $50 372.38!!!

2013 ANNUAL REPORTS:

Treasurers are reminded to keep a running total in a draft Treasurer’s Annual Report.

Use your draft Treasurer’s Annual Report to provide each committee chairperson with a summary of all the financial activity under their committee so that they can accurately complete their Annual Reports.

NOTES TO TREASURERS:

It is important to present an Annual Projected Budget to your executive at the end of the year for the next year or at the very start of each year.

An Annual Projected Budget helps new and returning members of the executive to make plans for fundraising, events, donations and activities.

During your executive meetings present the Annual Projected Budget along with an Actual Cash Flow to provide a true picture to help with all decisions that may have a financial impact.

PER CAPITA FEES:

Submit per capita fees before the February 28th deadline so that the Diocesan and Provincial Councils get their share to finance their activities and that your members receive The Canadian League magazine.

Please note that if your per capita fees are not paid, your members have no standing in the CWL and cannot vote at meetings or conventions.

It is vital to send in your insurance dues as at the same time to ensure that all your members are insured in the case of any accident or injury.

Submit late fees or new members’ fees as you receive them.

ANNUAL “AUDIT”:

All treasurers’ books should be “audited” each year (The Catholic Women’s League of Canada: Guidelines for Treasurers; Page 4; Item 7; line 2).

Many industry regulations have changed and accountants must now register, pay professional fees and follow special professional development courses for each different aspect of their profession including the auditing of books. This may mean that some accountants who used to verify your books may no longer be able to if they did not opt to include this activity on their license. Investigate now so that you are not surprised at the end of the year.

It is still important to note that your books should be reviewed by a capable person with some bookkeeping or accounting experience. This person need not be a professional accountant.